Cordasco Financial Network continued to hold its stake in Eaton Corporation, PLC (NYSE:ETN) during the third quarter, Holdings Channel reports. The fund owned 8,485 shares of the company’s stock at the end of the third quarter. Cordasco Financial Network’s holdings in Eaton Corporation, PLC were worth $507,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. BerganKDV Wealth Management LLC increased its stake in Eaton Corporation, PLC by 7.9% in the third quarter. BerganKDV Wealth Management LLC now owns 10,641 shares of the company’s stock worth $699,000 after buying an additional 783 shares in the last quarter. Speece Thorson Capital Group Inc. increased its stake in Eaton Corporation, PLC by 13.2% in the third quarter. Speece Thorson Capital Group Inc. now owns 278,214 shares of the company’s stock worth $18,281,000 after buying an additional 32,532 shares in the last quarter. Manning & Napier Advisors LLC increased its stake in Eaton Corporation, PLC by 1.1% in the third quarter. Manning & Napier Advisors LLC now owns 54,647 shares of the company’s stock worth $3,590,000 after buying an additional 575 shares in the last quarter. GW Henssler & Associates Ltd. increased its stake in Eaton Corporation, PLC by 3.5% in the third quarter. GW Henssler & Associates Ltd. now owns 22,408 shares of the company’s stock worth $1,472,000 after buying an additional 768 shares in the last quarter. Finally, Capital One National Association increased its stake in Eaton Corporation, PLC by 21.8% in the third quarter. Capital One National Association now owns 4,866 shares of the company’s stock worth $320,000 after buying an additional 871 shares in the last quarter. 73.14% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Eaton Corporation, PLC (NYSE:ETN)

Eaton Corporation, PLC (NYSE:ETN) traded up 0.67% during trading on Friday, reaching $68.66. 1,264,710 shares of the company were exchanged. The company has a market capitalization of $31.01 billion, a P/E ratio of 16.22 and a beta of 1.36. Eaton Corporation, PLC has a one year low of $46.19 and a one year high of $70.00. The firm’s 50-day moving average is $67.92 and its 200 day moving average is $65.16.

Eaton Corporation, PLC (NYSE:ETN) last released its quarterly earnings data on Tuesday, November 1st. The company reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. Eaton Corporation, PLC had a net margin of 9.78% and a return on equity of 12.73%. The company earned $5 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business earned $0.96 earnings per share. Eaton Corporation, PLC’s revenue was down 4.2% compared to the same quarter last year. On average, analysts anticipate that Eaton Corporation, PLC will post $4.20 EPS for the current fiscal year.

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A number of analysts have issued reports on the stock. Bank of America raised shares of Eaton Corporation, PLC from a “neutral” rating to a “buy” rating in a report on Monday. RBC Capital Markets set a $67.00 price objective on shares of Eaton Corporation, PLC and gave the company a “hold” rating in a report on Wednesday, January 4th. Vertical Research downgraded shares of Eaton Corporation, PLC from a “buy” rating to a “hold” rating in a report on Tuesday, January 3rd. Zacks Investment Research raised shares of Eaton Corporation, PLC from a “sell” rating to a “hold” rating in a report on Tuesday, December 20th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Eaton Corporation, PLC in a report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $66.18.

In other news, insider Ken D. Semelsberger sold 19,913 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $69.15, for a total value of $1,376,983.95. Following the completion of the transaction, the insider now directly owns 88,706 shares in the company, valued at $6,134,019.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Fearon sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $68.11, for a total transaction of $1,362,200.00. Following the completion of the transaction, the insider now owns 254,856 shares of the company’s stock, valued at $17,358,242.16. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Eaton Corporation, PLC Company Profile

Eaton Corporation (Eaton) is a diversified power management company. It is engaged in the manufacturing of electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use, and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety.

5 Day Chart for NYSE:ETN

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